Alexander Deryugin

Regional Budgets: Revenue Growth and Expenditure Containment

In 2016, actual revenues of Russian regions went up. The overall budget deficit dropped to a nine-year low in response to expenditure containment policies. Nevertheless, the total volume of public debt racked up (accumulated OK) by lower-revenue regions remains high.

The Federal Budget for 2018-2020: Austerity Measures

At present, the State Duma is reviewing the draft federal budget in 2018–2020, which is characterized by a conservative forecast of the price of oil, dramatic reduction of the expenditures as a result of new budget rules being applied and a high level of state borrowings. In addition, with the start of a new political cycle in 2018 it may be required to build up expenditures for solving the issues set by the country’s leadership.

Влияние Основных Характеристик Межбюджетных Отношений На Показатели Экономического Развития Субъектов Российской Федерации (Influence of the Main Characteristics of Interbudgetary Relations on the Indicators of Economic Development of the Subjects of the Russian Federation)

Russian Abstract: В работе рассмотрены методические подходы к оценке влияния инструментов межбюджетного регулирования на экономическое развитие регионов, влияние основных характеристик межбюджетных отношений на национальном уровне и региональном уровне на показатели экономического развития регионов. English Abstract: The paper considers methodological approaches to assessing the impact of interbudgetary regulation instruments on the economic development of regions, the impact of the main characteristics of interbudgetary relations at the national level and the regional level on the indicators of the economic development of regions.

Regional Budgets: At the End of Tether

Improved parameters of the consolidated budgets balance of the subjects of the Russian Federation in July–October 2016 triggered by growing rates of budget revenues and curbing of expenditure growth will allow retaining the values of major budget indices at the 2015 level in real terms. Meanwhile, currently regions have got to the limits of their possibilities to raise wages to those categories of public employees who were indicated in May 2012 presidential decrees. Expected onward contraction of real volume of regions’ re venues and expenses in 2017–2019 can lead to the incomplete implementation of decrees, further distortion on the structure of regional and local budgets’ expenditures, debt problems as well as to the slowdown of economic growth rates.

Совершенствование Системы Распределения Выравнивающих Трансфертов в Российской Федерации (Improving the System of Distribution of Equalization Transfers in the Russian Federation)

Russian Abstract: Настоящая работа содержит анализ системы межбюджетного выравнивания в России. Авторами были выявлены основные недостатки действующей системы и обоснована необходимость принятия мер по ее совершенствованию с целью повышения ее эффективности, объективности и результативности. На основе анализа лучших мировых практик в области межбюджетного выравнивания, а также с использованием методов эконометрического моделирования были разработаны рекомендации в отношении изменения порядка расчета индекса бюджетных расходов, а также политики в области определения общего объема выравнивающих трансфертов.English Abstract: The review contains the analysis of Russia’s fiscal equalization system. The authors identified the system’s major shortcomings and provided arguments in favor of taking measures for its improvement in order to increase the system’s effectiveness, efficiency and objectiveness. Based on the analysis of the world best practice in the sphere of fiscal equalization as well as by using econometric modeling the authors developed recommendations on calculating budget expenditures index and improving policy in the field of determining the total amount of equalization transfers.

Оперативный Мониторинг Экономической Ситуации в России. Тенденции и Вызовы Социально-Экономического Развития 2015, #11 (Monitoring of Russia's Economic Outlook. Trends and Challenges of Socio-Economic Development 2015, #11)

Russian Abstract: Июнь �?тал в определенном отношении переломным ме�?�?цем в развитии нынешнего кризи�?а в ро�?�?ий�?кой �?кономике. По предварительным данным Ро�?�?тата, в июне прекратило�?ь углубление �?пада в промышленном производ�?тве: индек�? производ�?тва к июню 2014 г. �?о�?тавил 95,2%, в то врем�? как в мае в годовом выражении он �?о�?тавл�?л 94,5%. English Abstract: June 2015 became a critical month in the evolution of the current crisis in Russian economy. According to preliminary data released by Rosstat, in June exacerbation of the crisis in the real sector stopped: production index against June 2014 constituted 95.2%, meanwhile in May it constituted 94.5% in annual terms.